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: VeriSign stock rises following quarterly results

Economy, Finance

VeriSign Inc. VRSN shares rose in the extended session Thursday after the domain-name-registry and internet-infrastructure company reported a rise in net income and an increase to its share-buyback program. VeriSign shares rose 5% after hours, following a 0.7% rise in the regular session to close at $204.55. The company reported fourth-quarter net income of $157.3 million, or $1.38 a share, compared with $148.1 million, or $1.26 a share, in the year-ago period. The company said net income for the fourth quarter was boosted by an 11-cent-per-share income tax benefit. Revenue rose to $320.3 million from $310.5 million in the year-ago quarter. Analysts surveyed by FactSet had forecast $1.33 a share on revenue of $320.3 million. VeriSign also said its board added $747 million to the company’s share-buyback authority, bringing it up to an even $1 billion.

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